In a recent announcement, Jugnoo, a one of its kind of demand app for autorickshaws revealed the news of it turning cash positive. On the basis of EBITDA, Jugnoo’s cash flow has turned cash positive. It means that this startup has been earning ample money to pay for its recurring expenses. The growth in their long term cash inflows have significantly subsided its long term cash outflows thereby contributing considerably in its cash positive status.
Jugnoo started its operation in the year 2014 in the beautiful city of Chandigarh and emerged as a one stop destination for fulfilling its users local needs. It was the first app to grasp the need of proper and easy transportation in tier 2 and 3 cities. Consequently, it began its on demand app for hailing the auto rickshaws. Furthermore, it worked extensively towards expanding its operation towards the food and grocery needs of people and began its hyperlocal delivery facilities in around 35 cities of India. In addition, it also moved a step ahead and initiated its business-to-business (B2B) logistics on a global level.
It’s seamless operation soon got momentum and it got a competitive edge over its competitors by acquiring BookMyCab in 2015. BookMyCab was a Mumbai based app with around 4000 cabs in its vicinity. The merger brought all those cabs in the authority of Jugnoo and helped it pave new avenues of success. As a result, the startup now has an approx 15,000 auto-rickshaws functional on its app, with a daily transaction of 50,000 per day along with a whopping 5 million users. Its consistent success has helped it record a huge net profit of an approx US$1.8 million in the first quarter of the financial year 2017-18, which increased its growth by 15 percent on a monthly basis.